Filing Flows › Primo Brands (PRMB) › Q3 2025
Primo Brands (PRMB) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
Primo Brands (PRMB) reported revenue of $1.8B for the third quarter 2025 (Q3 2025), +35% from a year earlier and +2% from the quarter before. Operating margin was 8.3%, net earnings $16.8M (1.0% of revenue).
Primo Brands, Q3 2025: revenue $1.8B (+35% year over year), operating margin 8.3%, net earnings $16.8M, operating cash flow $283M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.8B | +2% | +35% |
| Gross profit | $528M | -2% | +27% |
| Operating profit | $146M | +30% | -7% |
| Net earnings | $16.8M | -39% | -68% |
| Operating cash flow | $283M | +83% | +8% |
| Free cash flow | $168M | +66% | -27% |
What changed
Revenue was $1.8B in Q3 2025, up 35% year over year and up 2% from the previous quarter. Regional spring water was the largest line at 50% of revenue. Purified water added $0.23B year over year (up 68%), 49% of the total change. Other water declined 14%.
Gross margin was 29.9%, down 2.0 points from a year earlier. Operating profit was $0.15B, a 8.3% margin (down 3.8 points year over year). Operating profit fell $0.01B even though revenue rose $0.46B versus a year earlier, so costs grew faster than sales. Operating expenses grew 48% against revenue growth of 35%. The fastest-growing cost line was Other operating costs (+104%). Net earnings were $0.02B, down 68% year over year. The effective tax rate was 61.1%.
Operating cash flow was $0.28B (up 8% year over year), 1687% of net earnings. Non-cash charges added back $0.16B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.09B. Capital expenditures of $0.12B left free cash flow of $0.17B.
Questions
What was Primo Brands' revenue in the third quarter 2025?
Primo Brands (PRMB) reported revenue of $1.8B for the third quarter 2025 (Q3 2025), +35% from a year earlier and +2% from the quarter before.
Was Primo Brands profitable in the third quarter 2025?
Operating profit was $146M (8.3% of revenue) and net earnings $16.8M.
Source: Primo Brands 10-Q on SEC EDGAR.